South Korea's Sees 21.7 Percent Surge in Auto Exports
Total vehicle shipments climbed 21.7 percent year-on-year to $6.07 billion in January, according to the Ministry of Trade, Industry and Resources — marking the second-strongest January performance on record.
The standout driver was eco-friendly sedans, whose exports skyrocketed 48.5 percent to $2.56 billion, underscoring a sweeping shift in consumer preference toward greener transportation globally.
The United States remained South Korea's most lucrative export destination, with auto shipments to American shores jumping 19.2 percent to $2.66 billion. However, not all markets shared in the momentum — exports to Asia contracted sharply, tumbling 30.1 percent to just $325 million.
In volume terms, South Korea shipped 246,574 vehicles overseas in January, a 23.4 percent increase compared to the same period last year. Auto parts exports also expanded, rising 3.9 percent to $1.63 billion.
Domestic production kept pace with surging external demand, with local factory output jumping 24.1 percent to 360,500 units — signaling strong manufacturer confidence heading into 2025.
The domestic market also gained traction, with combined sales of locally produced and imported vehicles reaching 120,787 units in January, up 14.0 percent year-on-year, pointing to resilient consumer spending at home alongside record-setting export growth.
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